NEW YORK (Jul. 19)
German Stock Exchanges yesterday suffered their worst day since Chancellor Hitler came to power, the New York Times reported today from Berlin. Otto D. Tolischus, the correspondent attributed the drop to the Government’s preemption of capital markets, the drastic measures against Jews, the decline of world economy, and Germany’s forceful political measures which make other nation’s wary and entail counter-measures.
“Heavy Jewish liquidations caused by enforced ‘Aryanizations’ and the numerous restrictions imposed on Jewish businesses, together with the sudden exclusion of Jewish brokers from stock exchanges, have greatly contributed to the slump in stocks, but anti-Jewish excesses in Vienna have also contributed to the slump in foreign trade,” the correspondent said.
Despite rigid control, prices yesterday tumbled four, five, six and, in individual cases, up to nine points, in what German newspapers themselves called a sensational collapse. Today, according to the Associated Press, Reichsbank shares continued to decline on the Berlin Boerse, but other shares regained some of yesterday’s losses.